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Resources : TCI Finance

Courtyard Plaza #3DB,
Leeward Highway,
Providenciales,
Turks and Caicos Islands

Resources

Legal Framework

Turks and Caicos Islands have demonstrated significant corporate and financial law stability over many decades and continue to do so. TCI law is based upon English common law, with a significant number of locally enacted, TCI-specific statutes - including several in the areas of corporate law and financial services. The TCI court system is based upon English law and English civil and criminal procedure. The ultimate court of appeal from the TCI Supreme Court is the Privy Council in London.

Useful Links

Invest TCI TCI Financial Services Commission TCI - National Song TCI - Private Client David Stewart, TCI Finance board member video Paul Pirie, TCI Finance CEO Interview

Regulatory Framework

Turks and Caicos Islands Financial Services Commission (TCIFSC) is an independent statutory body established under the Financial Services Commission Ordinance 2001 and continued under the Financial Services Commission Ordinance 2007.

 

The Commission is an integrated regulator responsible for regulating all financial services businesses operating in or from the Turks and Caicos Islands (TCI) and the supervision of designated non-financial businesses and persons (DNFBPs) and not-for-profit entities operating in or from the TCI. Through the Commercial Registry, the Commission is also responsible for the administration of company formation, registration, patents, trademarks, and business names.

 

The Commission is led by a seven-member Board of Commissioners and reports to Her Excellency the Turks and Caicos Islands Governor.

Trust Ordinance

The Turks and Caicos Islands (‘TCI’) as a jurisdiction for wealth planning

 

The Trusts Ordinance of Turks and Caicos Islands (TCI) serves as the foundational legal framework governing the establishment, administration, and regulation of trusts within the jurisdiction.

 

  • The TCI are a British Overseas Territory (like Cayman and BVI) with the ultimate Court of Appeal being the Privy Council in London, and local legislative authority delegated (except for defence, foreign relations and financial services) to a locally elected assembly, with Cabinet chaired by a UK appointed Governor.
  • US dollar currency, no national debt, strong stable government, budget surplus of $75M + in 2023, strong economic growth, primarily tourism and real estate driven.
  • Recent (2016) trust legislation offering the full suite of trust services, legislation and regulation including:

  1. Revocable Trusts
  2. Settlor controlled trusts
  3. Star/Vista trusts
  4. Private Trust Companies
  5. Special purpose trusts
  6. Asset protection (settlement not capable of being challenged after 4 years)
  7. Firewall against forced heirship rights
  8. No perpetuity period
  9. Extensive trustee licensing regime requiring full audit, professional indemnity insurance for licensed trust companies

 See Trust Companies – Legislation & Regulation | TCIFSC 

 

  • Established community of local lawyers, accountants and banks (three Canadian banks, two Swiss owned) and fund managers to support planning
  • FATCA, CRS and Economic Substance compliant, no blacklistings or other regulatory issues
  • Qualified and trust law literate judiciary
  • Highly accessible with excellent airlift to the US, Canada and Europe

The international FS centre that moves you.

When it comes to wealth management and financial services, you can have it all in TCI. Put your faith in the emerging leader in international finance and achieve your personal and professional goals while investing in somewhere you’ll love.